2025 Regular Session • Virginia Legislature
SB865: Income tax, state; subtractions of military benefits.
Legislative Summary
Taxable income; subtractions; military benefits. Removes the current cap of $40,000 of military benefits that may be subtracted from Virginia taxable income for taxable years beginning on and after January 1, 2026, such that the total amount of military benefits may be subtracted from such income.
Demographic Impact
Overall analysis of equity impact
85% Positive
High ConfidenceView detailed demographic breakdown ↓Unlock Full Demographic Insights
Go beyond the overall score.
Gain a deeper understanding of this bill's potential impact across diverse communities, including detailed breakdowns by category and subgroup. Access to this granular analysis helps ensure equitable outcomes.
Enable full analysis features for your organization.
Contact Sales to Learn MoreOr email us directly at sales@legiequity.us.
Bill History
1/3/2025
Prefiled and ordered printed; Offered 01-08-2025 25103023D
Senate
1/3/2025
Referred to Committee on Finance and Appropriations
Senate
1/23/2025
Impact statement from TAX (SB865)
Senate
2/5/2025
Left in Finance and Appropriations
Senate
Status Information
Current Status
Introduced(1/3/2025)
Chamber
Senate
Committee
Finance and Appropriations(Senate)
